There was a proposal to upgrade Belmont to be a wet and dry track, so the turf club could sell ascot. Part of that was to add a trotting circuit to the centre, and have a one use facility.
The trotting club backed out for some reason ( less revenue maybe?) despite them not needing to manage their own facilities. Whole thing fell over.
I don't think the TC owns Ascot, only the Belmont track. The City of Belmont owns Ascot I believe and the TC lease it off them. Ascot will go soon and Belmont will be the only city track.